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India Styrene Market
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India Styrene Market

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India Styrene Market, By Type (Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS), Styrene-Butadiene Rubber (SBR)); By Application (Packaging, Construction, Consumer Goods, Automotive, Electrical & Electronics); By Raw Material (Ethylene-based Styrene, CDH-based Styrene, Bio-based Styrene); By Distribution Channel (Direct Sales, Distributors and Traders, Online Platforms); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: March 2024
  • Report ID: BWC24191
  • Available Format: PDF
  • Page: 200

Report Overview

A surging demand for styrene from major end use industries and increasing adoption of technological advancements are expected to drive the India Styrene Market during the forecast period between 2024 and 2030.

India Styrene Market – Industry Trends & Forecast Report, 2030

India Styrene Market size by value was estimated at USD 789.21 million in 2023. During the forecast period between 2024 and 2030, the India Styrene Market size is projected to grow at a CAGR of 7.76% reaching a value of USD 889.3 million by 2030. A prominent driver of the growing demand for polystyrene in the packaging industry nationwide. Polystyrene's popularity, attributed to its water resistance, lightweight, and flexibility, makes it a preferred choice for packaging diverse consumer goods like dairy, vegetables, poultry, and processed foods. The expansion of the cold storage industry and the increasing preference for ready-to-eat meals contribute to the rising demand for packaging materials, consequently boosting the styrene market. Also, the versatile applications of Expanded Polystyrene in construction, along with the widespread use of Acrylonitrile Butadiene Styrene, Styrene Butadiene Rubber, and Unsaturated Polystyrene Rubber across various industries, further propel the overall growth of the styrene market. The expected surge in demand for polymers, plastics, paints & coatings, driven by rapid industrialization and government investments in public infrastructure, is poised to drive the continuous expansion of the styrene market.

By volume, the India Styrene Market size was estimated at 865.09 thousand tons in 2023. During the forecast period between 2024 and 2030, the India Styrene Market size is projected to grow at a CAGR of 7.11% reaching the volume of 947.22 thousand tons by 2030. In 2021, Indian Oil Corporation Ltd (IOCL) aligns with India's "Atmanirbhar Bharat" mission to enhance self-reliance in the chemical sector. IOCL has unveiled an investment plan of approximately INR 450 billion at its existing Panipat refinery in Haryana. This investment is earmarked for the establishment of a new Styrene Monomer plant. Utilizing feedstock from the expanded Panipat refinery, this project, aiming for completion by 2026-27, temporarily underscores India's reliance on Styrene Monomer imports. The historical import dependence on Styrene Monomer in India faces challenges, exemplified by the recent record-high prices of INR 122.5/kg in March, driven by external factors soaring freight costs, and unexpected shipping container shortages, impacting domestic downstream producers.

India Styrene Market

Styrene Market – Overview

Styrene, characterized by its colorless liquid state and a pleasant aroma, exhibits high volatility. Serving as a precursor to several polymers, including Polystyrene (C8H8)n, Expanded Polystyrene (EPS), Acrylonitrile Butadiene Styrene (ABS), Styrene Butadiene Rubber (SBR), and Unsaturated Polystyrene Rubber (UPR), it plays a vital role in diverse industries. Notably, the production of polystyrene, with its chemical formula C8H8, stands out as the primary and largest application of styrene.

India Styrene Market

Growth Drivers

Growing Demand from End Use Industries

The styrene market is experiencing substantial growth due to increasing demand across various industries. Polystyrene, a versatile plastic polymer, is a major driving force, especially in packaging. Its lightweight and insulating properties make it perfect for foam packaging, food containers, and disposable cutlery. Styrene-based polystyrene also plays a vital role in construction, providing effective thermal insulation, and benefits the electronics industry with its insulating properties. In the automotive sector, styrene contributes to lightweight solutions in interior components, aligning with the industry's focus on fuel efficiency. The recyclability and potential for sustainable production methods further drive demand, with bio-based styrene emerging as a sustainable trend. Styrene's involvement in synthetic rubber for high-performance tires underscores its importance in diverse industrial applications.

Challenges

Fluctuating Raw Material (Crude Oil) Prices

The growth of the India Styrene Market faces constraints due to fluctuating raw material prices, particularly in crude oil. As a key component in styrene production, the variability in crude oil prices directly impacts manufacturing costs. This instability poses challenges for market players, affecting profitability and overall market expansion. The industry's susceptibility to unpredictable raw material costs underscores the need for strategic planning and risk management within the India Styrene Market.

Impact of Escalating Geopolitical Tensions on India Styrene Market

Geopolitical tensions can have a multifaceted impact on the India Styrene Market. Such tensions can disrupt the global supply chain, impacting the availability and cost of key raw materials crucial for styrene production. Import-export dynamics may face disruptions, influencing market stability. Additionally, geopolitical uncertainties often lead to fluctuations in currency exchange rates, affecting pricing structures within the industry. The India Styrene Market, being interconnected with the global economy, must navigate these challenges, adapting strategies to mitigate risks associated with geopolitical tensions and ensuring a resilient market environment amid the dynamic geopolitical landscape.

India Styrene Market

Segmental Coverage

India Styrene Market – By Type

By type, the India Styrene Market is divided into Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS), and Styrene-Butadiene Rubber (SBR) segments. The polystyrene segment holds the highest share in the India Styrene Market by type. It can be attributed to the polymer's versatility and extensive use across diverse industries. Polystyrene, known for its cost-effectiveness and lightweight nature, stands out for its exceptional insulation properties. It makes it a favored material for various packaging applications, such as foam cups and food containers. Its prominence in the styrene market is reinforced by its easy manufacturing process and the ability to be molded into different shapes, establishing it as a dominant force within the industry.

India Styrene Market Share

India Styrene Market – By Application

On the basis of application, the India Styrene Market is divided into Packaging, Construction, Consumer Goods, Automotive, and Electrical & Electronics segments. The packaging segment holds the highest share in the India Styrene Market by application. It is primarily driven by its versatile applications across various packaging needs. Styrene's lightweight, durability, and cost-effectiveness render it an optimal material for manufacturing diverse packaging products like foam cups, food containers, packaging foams, and protective packaging. Its capacity to preserve product freshness, repel moisture, and enhance visual presentation solidifies styrene's crucial role in the packaging sector. This extends to meeting the requirements of consumer goods and food packaging, underscoring the material's significance in delivering effective and appealing packaging solutions.

India Styrene Market – By Raw Material

By raw material, the India Styrene Market is divided into Ethylene-based Styrene, CDH-based Styrene, and Bio-based Styrene segments.

India Styrene Market – By Distribution Channel

By distribution channel, the India Styrene Market is divided into Direct Sales, Distributors and Traders, and Online Platforms segments.

India Styrene Market – By Region

Geographically, the India Styrene Market is divided into North India, South India, East India, and West India regions. West India holds the highest market share and is expected to maintain its dominance during the forecast period. Its dominance is attributed to key consumption in states like Gujarat and Maharashtra. These states house prominent industries in sectors such as paints and coatings, packaging, and automotive, driving the demand for styrene. As of FY2023, the entire styrene demand in India is fulfilled through imports. India Oil Corporation Limited (IOCL), a major player in the country's petroleum refining sector, is currently pursuing a greenfield expansion in Panipat, Haryana. The expansion project is expected to be concluded by FY2027, contributing to potential changes in the dynamics of the styrene market in the coming years.

Competitive Landscape

Major players operating in India Styrene Market include Indian Oil Corporation Limited (IOCL), Reliance Industries Limited (RIL), LG Polymers India Pvt. Ltd, Supreme Petrochem Ltd, Tamilnadu Petroproducts Limited (TPL), Haldia Petrochemicals Limited (HPL), Indian Synthetic Rubber Private Limited (ISRPL), Mangalore Refinery and Petrochemicals Limited (MRPL), Gujarat State Fertilizers & Chemicals Ltd (GSFC), Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), INEOS Styrolution India Limited, and Bhansali Engineering Polymers Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2030

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

By Value - Revenue in USD Million 

By Volume - Thousand tons 

Market Coverage

India

Product/ Service Segmentation

Type, Application, Raw Material, Distribution Channel, Region

Key Players

Indian Oil Corporation Limited (IOCL), Reliance Industries Limited (RIL), LG Polymers India Pvt. Ltd, Supreme Petrochem Ltd, Tamilnadu Petroproducts Limited (TPL), Haldia Petrochemicals Limited (HPL), Indian Synthetic Rubber Private Limited (ISRPL), Mangalore Refinery and Petrochemicals Limited (MRPL), Gujarat State Fertilizers & Chemicals Ltd (GSFC), Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), INEOS Styrolution India Limited, Bhansali Engineering Polymers Limited

 

By Type

  • Polystyrene (PS)

  • Acrylonitrile Butadiene Styrene (ABS)

  • Styrene-Butadiene Rubber (SBR)

By Application

  • Packaging

  • Construction

  • Consumer Goods

  • Automotive

  • Electrical & Electronics

By Raw Material

  • Ethylene-based Styrene

  • CDH-based Styrene

  • Bio-based Styrene

By Distribution Channel

  • Direct Sales

  • Distributors & Traders

  • Online Platforms

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Styrene Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Growing Demand from end-use industries
        2. Rising disposable income
        3. Technological advancements
      2. Restraints
        1. Fluctuating raw material prices (crude oil)
        2. Availability of substitutes (bio-based, biodegradable)
        3. Stringent environmental regulations
      3. Opportunities
        1. Increasing exports
        2. Development of new applications
        3. Focus on sustainability
      4. Challenges
        1. Infrastructure bottlenecks
        2. Skilled labor shortage
        3. Competition from global players
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. India Styrene Market: Marketing Strategies
  5. India Styrene Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Forecast
      1. By Type
        1. Polystyrene (PS)
        2. Acrylonitrile butadiene styrene (ABS)
        3. Styrene-butadiene rubber (SBR)
        4. Others
      2. By Application
        1. Packaging
        2. Construction
        3. Consumer Goods
        4. Automotive
        5. Electrical & Electronics
        6. Others
      3. By Raw Material
        1. Ethylene-based Styrene
        2. CDH-based Styrene
        3. Bio-based Styrene
      4. By Distribution Channel
        1. Direct Sales
        2. Distributors & Traders
        3. Online Platforms
      5. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  6. North India Styrene Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Raw Material
      4. By Distribution Channel
  7. South India Styrene Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Raw Material
      4. By Distribution Channel
  8. East India Styrene Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Raw Material
      4. By Distribution Channel
  9. West India Styrene Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Raw Material
      4. By Distribution Channel
  10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Styrene Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  11. Impact of Escalating Geopolitical Tensions on India Styrene Market
  12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Indian Oil Corporation Limited (IOCL)
    2. Reliance Industries Limited (RIL)
    3. LG Polymers India Pvt. Ltd
    4. Supreme Petrochem Ltd
    5. Tamilnadu Petroproducts Limited (TPL)
    6. Haldia Petrochemicals Limited (HPL)
    7. Indian Synthetic Rubber Private Limited (ISRPL)
    8. Mangalore Refinery and Petrochemicals Limited (MRPL)
    9. Gujarat State Fertilizers & Chemicals Ltd (GSFC)
    10. Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL)
    11. INEOS Styrolution India Limited
    12. Bhansali Engineering Polymers Limited
    13. Other Prominent Players
  13. Key Strategic Recommendations
  14. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       India Styrene Segmentation

Figure 2       India Styrene Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       India Styrene Market Size, By Value (USD Million), 2019–2030

Figure 5       India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Figure 6       India Styrene Market Share, By Type, By Value, 2019–2030

Figure 7       India Styrene Market Share, By Type, By Volume, 2019–2030

Figure 8       India Styrene Market Share, By Application, By Value, 2019–2030

Figure 9       India Styrene Market Share, By Application, By Volume, 2019–2030

Figure 10     India Styrene Market Share, By Raw Material, By Value, 2019–2030

Figure 11     India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Figure 12     India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Figure 13     India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

Figure 14     India Styrene Market Share, By Region, By Value, 2019–2030

Figure 15     India Styrene Market Share, By Region, By Volume, 2019–2030

Figure 16     North India Styrene Market Size, By Value (USD Million), 2019–2030

Figure 17     North India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Figure 18     North India Styrene Market Share, By Type, By Value, 2019–2030

Figure 19     North India Styrene Market Share, By Type, By Volume, 2019–2030

Figure 20     North India Styrene Market Share, By Application, By Value, 2019–2030

Figure 21     North India Styrene Market Share, By Application, By Volume, 2019–2030

Figure 22     North India Styrene Market Share, By Raw Material, By Value, 2019–2030

Figure 23     North India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Figure 24     North India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Figure 25     North India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

Figure 26     South India Styrene Market Size, By Value (USD Million), 2019–2030

Figure 27     South India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Figure 28     South India Styrene Market Share, By Type, By Value, 2019–2030

Figure 29     South India Styrene Market Share, By Type, By Volume, 2019–2030

Figure 30     South India Styrene Market Share, By Application, By Value, 2019–2030

Figure 31     South India Styrene Market Share, By Application, By Volume, 2019–2030

Figure 32     South India Styrene Market Share, By Raw Material, By Value, 2019–2030

Figure 33     South India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Figure 34     South India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Figure 35     South India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

Figure 36     East India Styrene Market Size, By Value (USD Million), 2019–2030

Figure 37     East India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Figure 38     East India Styrene Market Share, By Type, By Value, 2019–2030

Figure 39     East India Styrene Market Share, By Type, By Volume, 2019–2030

Figure 40     East India Styrene Market Share, By Application, By Value, 2019–2030

Figure 41     East India Styrene Market Share, By Application, By Volume, 2019–2030

Figure 42     East India Styrene Market Share, By Raw Material, By Value, 2019–2030

Figure 43     East India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Figure 44     East India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Figure 45     East India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

Figure 46     West India Styrene Market Size, By Value (USD Million), 2019–2030

Figure 47     West India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Figure 48     West India Styrene Market Share, By Type, By Value, 2019–2030

Figure 49     West India Styrene Market Share, By Type, By Volume, 2019–2030

Figure 50     West India Styrene Market Share, By Application, By Value, 2019–2030

Figure 51     West India Styrene Market Share, By Application, By Volume, 2019–2030

Figure 52     West India Styrene Market Share, By Raw Material, By Value, 2019–2030

Figure 53     West India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Figure 54     West India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Figure 55     West India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

 

List of Tables

 

Table 1        India Styrene Market Size, By Value (USD Million), 2019–2030

Table 2        India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Table 3        India Styrene Market Share, By Type, By Value, 2019–2030

Table 4        India Styrene Market Share, By Type, By Volume, 2019–2030

Table 5        India Styrene Market Share, By Application, By Value, 2019–2030

Table 6        India Styrene Market Share, By Application, By Volume, 2019–2030

Table 7        India Styrene Market Share, By Raw Material, By Value, 2019–2030

Table 8        India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Table 9        India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Table 10      India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

Table 11      India Styrene Market Share, By Region, By Value, 2019–2030

Table 12      India Styrene Market Share, By Region, By Volume, 2019–2030

Table 13      North India Styrene Market Size, By Value (USD Million), 2019–2030

Table 14      North India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Table 15      North India Styrene Market Share, By Type, By Value, 2019–2030

Table 16      North India Styrene Market Share, By Type, By Volume, 2019–2030

Table 17      North India Styrene Market Share, By Application, By Value, 2019–2030

Table 18      North India Styrene Market Share, By Application, By Volume, 2019–2030

Table 19      North India Styrene Market Share, By Raw Material, By Value, 2019–2030

Table 20      North India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Table 21      North India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Table 22      North India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

Table 23      South India Styrene Market Size, By Value (USD Million), 2019–2030

Table 24      South India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Table 25      South India Styrene Market Share, By Type, By Value, 2019–2030

Table 26      South India Styrene Market Share, By Type, By Volume, 2019–2030

Table 27      South India Styrene Market Share, By Application, By Value, 2019–2030

Table 28      South India Styrene Market Share, By Application, By Volume, 2019–2030

Table 29      South India Styrene Market Share, By Raw Material, By Value, 2019–2030

Table 30      South India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Table 31      South India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Table 32      South India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

Table 33      East India Styrene Market Size, By Value (USD Million), 2019–2030

Table 34      East India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Table 35      East India Styrene Market Share, By Type, By Value, 2019–2030

Table 36      East India Styrene Market Share, By Type, By Volume, 2019–2030

Table 37      East India Styrene Market Share, By Application, By Value, 2019–2030

Table 38      East India Styrene Market Share, By Application, By Volume, 2019–2030

Table 39      East India Styrene Market Share, By Raw Material, By Value, 2019–2030

Table 40      East India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Table 41      East India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Table 42      East India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

Table 43      West India Styrene Market Size, By Value (USD Million), 2019–2030

Table 44      West India Styrene Market Size, By Volume (Thousand Tons), 2019–2030

Table 45      West India Styrene Market Share, By Type, By Value, 2019–2030

Table 46      West India Styrene Market Share, By Type, By Volume, 2019–2030

Table 47      West India Styrene Market Share, By Application, By Value, 2019–2030

Table 48      West India Styrene Market Share, By Application, By Volume, 2019–2030

Table 49      West India Styrene Market Share, By Raw Material, By Value, 2019–2030

Table 50      West India Styrene Market Share, By Raw Material, By Volume, 2019–2030

Table 51      West India Styrene Market Share, By Distribution Channel, By Value, 2019–2030

Table 52      West India Styrene Market Share, By Distribution Channel, By Volume, 2019–2030

Table 53      Indian Oil Corporation Limited (IOCL) Company Overview

Table 54      Indian Oil Corporation Limited (IOCL) Company Overview

Table 55      Reliance Industries Limited (RIL) Company Overview

Table 56      Reliance Industries Limited (RIL) Company Overview

Table 57      LG Polymers India Pvt. Ltd Company Overview

Table 58      LG Polymers India Pvt. Ltd Company Overview

Table 59      Supreme Petrochem Ltd Company Overview

Table 60      Supreme Petrochem Ltd Company Overview

Table 61      Tamilnadu Petroproducts Limited (TPL) Company Overview

Table 62      Tamilnadu Petroproducts Limited (TPL) Company Overview

Table 63      Haldia Petrochemicals Limited (HPL) Company Overview

Table 64      Haldia Petrochemicals Limited (HPL) Company Overview

Table 65      Indian Synthetic Rubber Private Limited (ISRPL) Company Overview

Table 66      Indian Synthetic Rubber Private Limited (ISRPL) Company Overview

Table 67      Mangalore Refinery and Petrochemicals Limited (MRPL) Company Overview

Table 68      Mangalore Refinery and Petrochemicals Limited (MRPL) Company Overview

Table 69      Gujarat State Fertilizers & Chemicals Ltd (GSFC) Company Overview

Table 70      Gujarat State Fertilizers & Chemicals Ltd (GSFC) Company Overview

Table 71      Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) Company Overview

Table 72      Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) Company Overview

Table 73      INEOS Styrolution India Limited Company Overview

Table 74      INEOS Styrolution India Limited Company Overview

Table 75      Bhansali Engineering Polymers Limited Company Overview

Table 76      Bhansali Engineering Polymers Limited Company Overview

Table 77      Other Prominent Players Company Overview

Table 78      Other Prominent Players Company Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: India Styrene Market size by value was estimated at USD 789.21 million in 2023.
Ans: India Styrene Market by value is expected to grow at a CAGR of 7.76% during the forecast period between 2024 and 2030.
Ans: India Styrene Market size is forecast to reach a value of USD 889.3 million by 2030.
Ans: The growth of the India Styrene Market is primarily driven by the growing demand from end use industries, rising disposable income, and technological advancements.
Ans: India Styrene Market size by volume was estimated at 865.09 thousand tons in 2023.
Ans: By Volume, the India Styrene Market size is expected to grow at a CAGR of 7.11% during the forecast period between 2024 and 2030.
Ans: India Styrene Market size by volume is forecast to reach 947.22 thousand tons by 2030.
Ans: Key players in India Styrene Market include Indian Oil Corporation Limited (IOCL), Reliance Industries Limited (RIL), LG Polymers India Pvt. Ltd, Supreme Petrochem Ltd, Tamilnadu Petroproducts Limited (TPL), Haldia Petrochemicals Limited (HPL), Indian Synthetic Rubber Private Limited (ISRPL), Mangalore Refinery and Petrochemicals Limited (MRPL), Gujarat State Fertilizers & Chemicals Ltd (GSFC), Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), INEOS Styrolution India Limited, and Bhansali Engineering Polymers Limited.
Ans: The polystyrene (PS) segment holds a major share in the India Styrene Market by type.
Ans: The packaging segment is expected to grow at the highest CAGR in the India Styrene Market during the forecast period between 2024 and 2030.
Ans: West India is expected to grow at the fastest CAGR in the India Styrene Market during the forecast period between 2024 and 2030.